Keith Olbermann was dismissed by Current TV Friday afternoon. His program “Countdown with Keith Olbermann” will be replaced by a new show entitled “Viewpoint with Eliot Spitzer.” Current TV founders Al Gore and Joel Hyatt released a statement announcing Olbermann’s termination. The statement reads in part:

Current was also founded on the values of respect, openness, collegiality, and loyalty to our viewers. Unfortunately these values are no longer reflected in our relationship with Keith Olbermann and we have ended it.